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Bitcoin extended losses on Wednesday afternoon in Asia. Most top 10 non-stablecoin cryptocurrencies dropped, except Ether, BNB, and Tron. The U.S. SEC on Tuesday again delayed its decision on exchange-traded fund (ETF) application by 21Shares and Cathie Wood\u2019s ARK Investment Management.\u00a0<\/p>\n
See related article:<\/em><\/strong> JPMorgan\u2019s U.K. bank Chase bans payments linked to crypto<\/a><\/p>\n Bitcoin dropped 0.21% to US$26,221 in 24 hours to 4.05 p.m. in Hong Kong, bringing its weekly losses to 3.23%, according to CoinMarketCap data<\/a>. The world\u2019s largest cryptocurrency has managed to stay above the US$26,000 support level for the past 14 days.<\/p>\n Meanwhile, the U.S. Securities and Exchange Commission (SEC) again delayed<\/a> a decision on whether to approve the first U.S. ETF on a filing from 21Shares and Cathie Wood\u2019s ARK Investment Management. This is the third time the SEC has delayed its decision since ARK and 21Shares\u2019 original filing in April.\u00a0<\/p>\n In a statement<\/a> on Tuesday, the SEC said, \u201cthe Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein. Accordingly, the Commission designates January 10, 2024, as the date by which the Commission shall either approve or disapprove the proposed rule change.\u201d\u00a0<\/p>\n Seven firms<\/a> \u2014 BlackRock, WisdomTree, Invesco Galaxy, Wise Origin, VanEck, Bitwise and Valkyrie Digital Assets \u2014 published ETF applications in the Federal Register on July 19. The SEC was scheduled to rule on all seven applications by Sept. 4. However, the regulator postponed by 45 days meaning the seven firms will now have to wait until mid-October for a decision.\u00a0<\/p>\n \u201cThis may put the hammer down for any hopes of an ETF approval this year? If they went on Ark\/21 shares already, we may see delays on all the other filings today too? In reality my base case is that we will get the \u201cdelays\u201d on the other filings tomorrow or sometime this week and the SEC is simply getting ahead of a likely federal government shutdown,\u201d said<\/a> James Seyffart, ETF analyst at Bloomberg Intelligence.\u00a0<\/p>\n This may put the hammer down for any hopes of an ETF approval this year? If they went on Ark\/21 shares already, we may see delays on all the other filings today too? BlackRock, Bitwise, VanEck, Invesco, Wisdomtree, Fidelity & Valkyrie a all due in mid Oct \u2026 pic.twitter.com\/XiFbxIrIRK<\/a><\/p>\nBitcoin extend losses<\/strong><\/h2>\n
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